Advantages: Good for short term solutions to finding a mortgage Disadvantages: Higher rates, (high) penalties for first three years
...surely be able to recommend Southern Pacific. However, if you have any problems with this I would recommend Simpleloans (on (01543) 303170) as a broker (no, I’m not advertising it’s just that I used them myself and they’re very, very good). Incidently, they also adhere to the policies of the Mortgage Code and, as you would expect, offer impartial and friendly advice (as well as offering a free valuation service) - important in itself ...
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Advantages: good chance for bad credit risk, not tied in for more than 3 years, reasonable rates under the circumstances Disadvantages: higher rates than the high street, big redmeption penalty in first 3 years
A US company specialising in "sub-prime" credit. They will consider you if you have CCJ's or arrears. Their are a few of these companies around at the moment but SPM was the pne I have found most reasonable on every front.
You will pay more than you will pay from a High Street lender. For instance I have been quoted a fixed rate of 7.9% for one yaer rising to their standard variable of 8.9 after that. This is about 1% more expensive than conventional ...
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